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News & Press: WIPP Legislative Updates

Lenders On the Hot Seat at House Small Business Roundtable

Tuesday, May 31, 2016  
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Lenders On the Hot Seat at House Small Business Roundtable

 

Central to solving the access to capital desert that exists for many small businesses, is a policy discussion about what to do to increase the flow of capital.  That was the subject of a roundtable hosted by Representatives Velazquez (D-NY) and Chu (D-CA). The broad discussion has moved beyond banks and small businesses—it now includes other sources of capital such as online lending. WIPP’s Chief Advocate, Ann Sullivan, was in attendance to share WIPP’s views and efforts on the issue.   

 

As businesses in attendance complained about the lack of bank loans, the banking industry complained about the regulatory environment that stifles their lending.  SBA guaranteed lenders sang another tune – one of optimism and online lenders touted their place in the marketplace as filling a funding gap.  Although the roundtable was not designed to provide solutions, the Representatives took note of the opinions expressed with an eye toward actions that could be taken on the policy front.

 


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